John Fisher has reached an agreement to sell the San Jose Earthquakes and their home stadium, PayPal Park, to media executive Heath Freeman for $625 million, according to “Sportico.”
The deal has received approval from the Major League Soccer board of governors, and the transaction is expected to finalize in the coming weeks, as reported by “the team.”
Fisher, who has owned the franchise since 2007, reportedly began seeking a buyer in June 2025 to help finance his rising costs for a new stadium in Las Vegas, per “SFGATE.”
The construction costs for that Nevada project have increased significantly, rising from an initial estimate of $1.5 billion to more than $2 billion, as noted by “Reuters.”
Freeman, a co-founder of the hedge fund Alden Global Capital, is known for his involvement in the media industry, where his firm has frequently drawn criticism for cutting staff at acquired newspapers, according to “The Washington Post.”
In a statement regarding the acquisition, Freeman expressed his commitment to the local community, saying, “Our vision is simple – winning on and off the field for San Jose and the entire region.”
He further elaborated on his goals for the organization, stating, “We are committed to investing in the team and building a club that consistently competes for championships.”
The sale comes at a pivotal time for the Earthquakes, who recently secured the No. 4 seed in the Western Conference for the upcoming MLS Cup playoffs, as reported by “Yahoo Sports.”
The club is currently preparing to host its first-ever playoff match at PayPal Park, a venue Fisher privately financed for $100 million in 2015, per “SFGATE.”
This transition marks the end of Fisher’s tenure as a sports owner in the Bay Area.